Sealed Air Co. (NYSE:SEE) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. decreased its position in Sealed Air Co. (NYSE:SEE) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,722 shares of the industrial products company’s stock after selling 316 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Sealed Air were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. Isthmus Partners LLC raised its position in shares of Sealed Air by 4.6% in the first quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock valued at $275,000 after buying an additional 322 shares during the last quarter. Everence Capital Management Inc. lifted its stake in shares of Sealed Air by 2.8% during the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 380 shares during the period. United Services Automobile Association boosted its holdings in shares of Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 393 shares during the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Sealed Air by 1.3% in the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 467 shares during the period. Finally, Sendero Wealth Management LLC increased its stake in Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 550 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

NYSE:SEE opened at $36.41 on Wednesday. The firm has a 50-day moving average of $35.24 and a two-hundred day moving average of $35.60. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The stock has a market cap of $5.30 billion, a P/E ratio of 14.68, a PEG ratio of 9.26 and a beta of 1.34. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, research analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.20%. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

Analyst Ratings Changes

Several research firms have commented on SEE. Wells Fargo & Company lifted their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. Stifel Nicolaus started coverage on Sealed Air in a report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective for the company. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Finally, Truist Financial decreased their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.